Jan. 23, 2019
07:32 am JST

Jan. 23, 2019
07:37 am JST

They got no plans because Japanese Government oversight... i.e., actual inspections by people that have an accounting clue, is crap in Japan. The Government basically is hands off and Japanese Financial Institutions that actually own stock in Japanese Companies don't seem to care either. Japanese Financial Institutions don't give a dam about shareholders. The Government of Japan is $11 Trillion in Debt. This small country that pays practically nothing towards a Military is that much in debt. Why.... because they're not properly investigating and taxing corporate Japan. The average individual.... taxed heavily but corporate Japan, they get a nice and easy free pass.

Jan. 23, 2019
08:37 am JST

Here's something I said before but pertinent to this article: Given what's happened to Ghosn, if I were a foreigner and crazy enough to take on a senior position at a Japanese firm, I'd welcome all the governance reform I could get. I wouldn't accept any pay package/compensation for anything without at least 10 Japanese execs' hankos on whatever document was drawn up...and pictures of them stamping them for evidence.

Jan. 23, 2019
08:52 am JST

Jan. 23, 2019
08:56 am JST

Given what's happened to Ghosn, if I were a foreigner and crazy enough to take on a senior position at a Japanese firm,

whoa! stop right there brother! After seeing what happened to Ghosn and Michael Woodford, IF I had to choose between being the CEO of a Japanese company (or any company) in Japan or become an ALT for 200,000 yen a month with no insurance or pension, I'd take the ALT job.

Jan. 23, 2019
11:01 am JST

Jan. 23, 2019
11:03 am JST

I'd be interested to see the actual survey because I have read several similar ones over the past few years that have had radically different results.

Actual change is still of course far more elusive.

Comp and nomination committees are important but they would probably be limp when the CEO/Pres and Chair of the board are the same person. Someone needs to watch the detectives. Lack of knowledgeable and active external boards has to be considered priority one to improve corporate governance. It seems the independent people who do often sit on boards are just people picking up an extra paycheck for doing very little as either a nice name for the company to have or as a pat on the back.

Jan. 23, 2019
11:59 am JST

Jan. 23, 2019
12:44 pm JST

Of course they won't. This is Japan, and this is what you get when you ask Japanese companies if they want to or not. The government could make it law, of course, but with so many lawmakers having vested interests and future amakudari careers in businesses, they are not interested in doing anything but requesting they form panels to think about making a decision on whether to ask the question about bringing it up at a board meeting for discussion.

Jan. 23, 2019
01:41 pm JST

Thank god, in other Japanese companies, they do not have people like the Japanese of the bad kind in their system like Nissan, not doing a real job and taking credit for it. . But this cannot be true because maybe they do not understand what is governance in a real company . The Japanese are always back-wards in actions. This is not an insult but I have lived in Japan for 31 years and things happening in developed Asian countries are always happening in Japan 5 years later than Asia. If all the good Japanese spend their time on doing the educated issues, maybe, the Japanese will live a happier life.

Jan. 23, 2019
02:52 pm JST

Jan. 23, 2019
03:25 pm JST

This practice, along with the cross-holdeing of large sections of shares, was what enabled Japanese companies to form what were essentially cartels under the dango system of old, and to keep out foreign competition and outside oversight while carving up their markets based on their internal "discussions". Old habits die hard...

Jan. 23, 2019
05:29 pm JST

Pls do not worry, Japan will sink in everything if the Japanese leave it to Japanese, most of yr comments are correct. They discuss & the always saying that we are Japanese , we understand each other as a tool for convincing other Japanese to be on their side but then they start thinking for themselves , just the norm in this country. Look at the Japanese companies that had been in every wrong doings, just bow and say moshiwake gozaimasen and go back to their old life styles. How can any good Japanese be happy ???.

Jan. 23, 2019
09:47 pm JST

Well, if J-corp doesn't think strengthening governance is a priority, then it's up to J-gov to put its foot down and severely punish any J-corp caught cooking their books. But we know nothing is going to happen as corruption and passing the brown envelop under the table is business as usual in Japan. This is just proof that Ghosn is nothing but a scapegoat for an obvious coup by Nissan.

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